Global Warming Exposes Arctic to Oil, Gas Drilling

WASHINGTON (Reuters) – Rising global temperatures will melt areas of the Arctic this century, making them more accessible for oil and natural gas drilling, a report prepared by the United States and seven other nations said on Monday. It predicts that over the next 100 years, global warming could increase Arctic annual average temperatures 5 […]

OPEC Inches Nearer To Peak Oil Output -MEES

(Dow Jones)–OPEC’s 10 active members produced 27.79 mln b/d in Oct, up just
40,000 b/d from Sep, down 275,000 b/d from Aug, likely showing group near
production capacity, Middle East Economic Survey says in report. Iraq output
separately at seven-month high of 2.4 mln b/d. OPEC, which raised official
output target starting Nov to 27 mln b/d from 26 mln b/d, due to meet in Cairo

The International Oil Fund: A Credible U.S. and International Oil Policy

“As an alternative to the Bush agenda, we can manage our demand for oil through responsible leadership, establishing consensus on the world’s demand, and collaborative efforts among producers and consumers to meet that demand.” MediaMonitors

Population boom set to stabilise at 9bn by 2300

Fears that the human race may drive itself to extinction through over-population are challenged by new United Nations figures suggesting an eventual equilibrium as people in poorer countries come to understand the need for smaller families. …But the report, issued by the UN’s population division, gives warning that even slight variations – “as little as […]

Iran wants China to replace Japan as top oil importer

Iran wants China to replace Japan as its biggest importer of oil and gas, Iranian Oil Minister Bijan Namdar Zanganeh was reported as saying here.

“Japan is our number one energy importer due to historical reasons … but we would like to give preference to exports to China,”

CNA

Oil prices tipped to decline as output lifts

Production rose 0.5 per cent from September to 30.61 million barrels a day, according to the survey of oil companies, producers and analysts. It was OPEC’s highest output since November 1979, US Energy Department figures show.

“Everyone who has oil has been pumping at maximum and that will produce lower prices,” said John Caiazzo, president of commodity brokerage Acuvest in Temecula, California.

“Oil belongs at $US30 to $US35 per barrel.”

SMH

Comment: Are we running out of oil (again)?

The scary story that is being amplified now concerns the developing world, notably China and India, where rapid economic growth – and no restrictions on emissions under the Kyoto Protocol – are seen as creating insatiable demands for oil. The story’s premise is that the world will run out of oil faster than we thought…http://www.dailytimes.com.pk/default.asp?page=story_2-11-2004_pg5_19

Bush Wins US Election

A critical view of the Most Important International Energy Agencies

Preface: Conditions of the world’s oil supply have entered into a new phase: increasing demand pressure, worries about the security of supply in important oil producing countries, speculative factors, but particularly, clear indications that limitations on the supply side have caused unexpected and high price increases. >In view of the fact that an increase of […]

Nigeria braces for nationwide strike

The Nigeria Labour Congress (NLC) and a coalition of civil society bodies have called on workers to launch an indefinite stoppage from 16 November in protest against rising fuel prices and President Olusegun Obasanjo’s economic reforms.

Its leaders have warned their strike will disrupt key oil exports.

Aljazeera.net

Oil Down $2, Speculators Bet on Kerry Win

LONDON (Reuters) – Oil prices fell heavily on Monday, taking U.S. crude below $50 on speculation that a U.S. election win for Senator John Kerry could ease the geopolitical friction that helped fuel this year’s record-breaking rally. U.S. light crude fell as low as $49.40 a barrel before retracing by 1745 GMT (1:45 p.m. EST) […]

Growing militarization of our oil dependence

How Long Will the Oil Age Last?

Peak Oil and Depopulating Asia

Pumped-up oil prices will hurt us all

Prof Oswald accepts that we use half as much oil per unit of GDP as we did in the 70s but argues that, because we have become twice as efficient in the use of all other inputs, greater energy efficiency does not in fact reduce our susceptibility to changes in oil prices. “It is not absolute efficiency that matters, it is relative efficiency,” he argues.

Guardian

It’s the Crude, Dude: War, Big Oil, and the Fight for the Planet

Webcast of the October 27, 2004 launch of Linda McQuaig’s new book at St. Andrews-Wesley church in Vancouver

workingtv.com

Oil companies spend riches on investors

Oil companies spend riches on investors By Russell Gold and Chip Cummins The Wall Street Journal Posted on Sun, Oct. 31, 2004 With oil at nearly $51 a barrel, even after two consecutive days of declines, the oil giants have a problem lots of companies only dream about: What to do with all the cash? […]

U.S. Growth Crimped By Oil

GDP — the volume of all goods and services produced by the economy — rose to $10.9 trillion after adjusting for inflation.

Before inflation, GDP grew at a 5.1 percent annual pace to $11.8 trillion. The economy expanded 3.9 percent during the 12 months that ended in September.

NY Post

Soaring Fuel Costs Undermining Airlines

NATURAL GAS / CRUDE OIL BTU SPREAD NARROWS

As of Final Postings on NYMEX 10/28: DEC NATURAL GAS $8.684/MMBtu DEC CRUDE OIL $8.779/MMBtu DEC HEATING OIL $10.513/MMBtu JAN NATURAL GAS $9.300/MMBtu JAN CRUDE OIL $8.748/MMBtu JAN HEATING OIL $10.556/MMBtu The discount to crude in the December strip was about 9 cents vs. 27 cents on Wednesday. The January “premium” to crude widened 44 […]

Produce prices ‘’soaring”, oil price blamed

Disrupted oil production in the Gulf of Mexico remains one of the key reasons why oil prices have hovered near a record $55 per barrel in recent days, and as those prices rise, so do pump prices for gasoline and diesel.

But shipments of fruits and vegetables from the Southeastern U.S., especially hard-hit Florida, also have been affected, and grocers are passing a chunk of the sharp price increases on to consumers.

Sunbury-based Weis Markets Inc., operator of 158 stores in six states, is among other grocers in the Northeast who have started posting signs in produce departments explaining to consumers the sudden price increases.

daily item

Making a meal of oil reserves

A study of the organisms that “eat” about half the world’s reserves of oil provides another intriguing contribution to understanding of the extent of global resources. There are many known examples of reserves that have been degraded by bacteria, a microbial diet with huge economic implications because the oil is made less valuable, though methane […]

Gulf Pipeline Disaster Revealed; SPR Tap Possible

Some traders are handicapping the possibility of the U.S. tapping the Strategic Oil Supply. With one week to go before the election, and with long-term problems now being fully catalogued, the scenario becomes possible. Rigzone

Instability looms as currencies slide

Economic instability looms as major currencies seem to be racing each other to the bottom of the pile. This is the flavour of the markets at the moment. All topped of with a sprinkling of light sweet crude oil.

Rising energy costs are also throwing a huge spanner in the works. The IEA report World Energy Outlook believes there will be a staggering 59% increase in demand by 2030.

It says this requires investment of about $592 billion each year until then, or a total of $16 trillion.

Aljazeera.net

U.S. October Consumer Confidence Index Falls to 92.8 From 96.7

U.S. consumer confidence fell for a third straight month in October, a private survey showed, suggesting rising voter discontent with the economy a week before President George W. Bush seeks re-election. The Conference Board’s consumer confidence index dropped to 92.8 from a revised 96.7 in September, lower than previously estimated. Americans’ assessment of the current […]

Deffeyes presentation

Deffeyes presentation:

SPE / Deffeyes

Norwegian Oil Strike called off

Brent crude rose to 52.24$ a barrel today, partly on the news of the Norwegian Shipowner Association’s threat to lockout all rigs in the conflict that started July 1st. But the jittery market can save it’s concerns for other parts of the world. The oil extraction is regarded “of vital interest” to the country’s economy, […]

CGES: OPEC pushing limits of oil production capacity

Paula Dittrick
Senior Staff Writer

HOUSTON, Oct. 21 — Most members of the Organization of Petroleum Exporting Countries are pushing the limits of their oil production capability, and some probably are finding that their sustainable capacity is not as high as originally thought.

London-based Centre for Global Energy Studies reached that conclusion in its Global Oil Report Market Watch for September-October.

Oil&Gas Journal

Oil Rises to Record as China’s Growth Expected to Boost Demand

Crude oil futures rose to a record $55.45 a barrel in New York after a report that the Chinese economy grew more than expected. Oil’s rally lifted heating oil to a record and natural gas to a 20-month high.China last year surpassed Japan as the world’s second- largest oil consumer after the U.S., because of […]

London Analysts: OPEC Overrated Themselves

Organization of the Petroleum Exporting Countries may admit there is the limit of its never-ending capability to pump and pump when restless traders and crude consumers need another extra oil production activity. Neftegaz

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy